Telstra has announced the purchase of Sydney-based hybrid cloud, connectivity and security solutions provider VMtech.
The major telco said the acquisition was aligned with its strategy to accelerate the growth of its network applications and services business in Australia and internationally.
Christopher Smith, Telstra’s Executive Director of Business Technology Services, commented: “The cloud services markets in Australia and Asia are growing rapidly and we expect to see this growth continue as more organisations adopt hybrid cloud solutions over the coming years. This presents a huge opportunity for Telstra.”
No financial details of the transaction have been revealed, although VMtech does boast a portfolio of customers which includes Coca-Cola, Komatsu, ME Bank, Mission Australia and Sydney’s Inner West Council. It has also featured in the 2017 Financial Review Fast 100 list, Deloitte Technology Fast 50 (2016) and BRW Fast 100 (2016)
VMtech Co-Founder and CEO Len Findlay said: “We have partnered with Telstra since 2013 to deliver our innovative solutions to customers in New South Wales and Victoria. Our values and commitment to delivering best-fit customer solutions are strongly aligned.
“We’re excited to be joining Telstra and helping to take our secure hybrid cloud capabilities, combined with Telstra’s leading network and security services, to a broader market – both domestic and international.”
VMtech, established in 2009, employs around 75 staff, and joins the likes of Kloud, Readify and MSC Mobility in being acquired by Telstra.